Banknotes Blog

Small Business, Business Banking

Supply-Chain Solutions That Create Better Business

By: Dave Wyttenbach

In an Amazon world, where everyone is accustomed to unlimited selection and two-day delivery, the current supply chain crisis is officially affecting all aspects of life, from groceries to gift giving and from cars to kitchen remodels. What are your options for serving customers through this challenge when so many factors feel like they are outside your control?

Before you get started on plans to expand your business, there are several steps experts recommend to properly prepare for an effective expansion. Your banker or potential investor will want to know you took these steps seriously and may even ask for data supporting your conclusions. Here are five ways to improve your chances of obtaining financing from a bank or investor.

You’ve heard the saying: “You have to spend money to make money.” While the underlying concept is true, the real trick is knowing when to spend and when to save to create a stable, thriving business. When it comes to spending, the most important thing is to fully understand your return on investment. Let's take a look at some to rules to guide your saving and spending decisions.

How do small businesses make large purchases, start new construction, or finance other development opportunities? Here are several ways.

Ensuring you receive payments reliably and on time is important for efficient cash management. Here are some common payment questions from businesses and how we answer them.

Failure assumes added significance for sales and business professionals, because we tend to interpret ‘no’ in personal terms as rejection when, in reality, ‘no’ is normally driven by a prospect’s circumstances and needs at that time. Here are five ways to reconsider failure.

In an Amazon world, where everyone is accustomed to unlimited selection and two-day delivery, the current supply chain crisis is officially affecting all aspects of life, from groceries to gift giving and from cars to kitchen remodels. What are your options for serving customers through this challenge when so many factors feel like they are outside your control?

"Together, everyone achieves more." More than simply a clever mnemonic device that encapsulates the importance a unified collective working toward a common goal – a TEAM – this phrase underpins the approach that State Bank of Cross Plains' commercial & ag, treasury management, wealth management, private banking, and other financial professionals bring with them to the office (or home office) every day. It's a mindset that allows us to maximize results for our partners, and that's helped propel our own business forward for the past 110+ years.

Interest rates may go up, prices may come back down. We simply cannot predict the future with any certainty. The best strategy is to just do what is best for your current business operations.

State Bank of Cross Plains has an easy solution to greatly reduce the opportunity for check fraud from your business deposit account: Positive Pay.

If your business requires a physical location, one of the biggest dilemmas can be whether to build, buy, or rent. In truth, there is no one-size-fits-all answer to that question. The most important thing to remember is, the answer that's best for you and your business should be based on facts and not fear of the unknown.

Depositors know that the short-term rate environment continues to offer very few opportunities to earn interest on cash holdings. Although a bank money market account offers a safe place to keep funds with immediate availability, there are other alternatives a business might want to consider before parking excess capital there for the long term.

For business, both ACH and wire transfers have payment advantages and disadvantages. Let’s look at them across six key categories.

Consider the following tips and “tricks” to help your small business avoid the pains sometimes associated with growing.

LIBOR has long been used as the market-driven index to set interest rates for business loans, in the U.S. and abroad. And it is on the verge of ending.

For a significant number of small business owners, having the available cash to run their company is a real concern. Fortunately, they have options.

Business credit cards have recently taken major steps forward in functionality and ease of use. Get the full benefit from yours by considering these tips.

Many businesses don’t recognize that the right fit with their bank could save them a lot of money. Let's dispel some of the notions about making a switch.

How you think about your bank can impact your business.

If your business is prepared for a market correction, it can be an advantageous environment for borrowing money.

The actual forgiveness of your PPP loan – or probable forgiveness of your PPP loan – affects how you will file your taxes.

We're in the midst of one of the most challenging economic times in history. If your bank isn't a strategic advisor, it's probably costing you money.

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